After bringing in two big corporate partners in April to launch an incubator for financial technology startups, EvoNexus announced another major local partner: UC San Diego’s Rady School of Management.
The new program will be used to accelerate Fintech startups developed by Rady’s students and alumnae.
“This continued extraordinary partnership of the Rady School with EvoNexus will focus on several mutually strong areas of interest,” Rady School of Management Founding Dean Robert Sullivan said in a news release. “They include analytics and data science, finance, and of course innovation. When all come together, there will be catalytic, exciting new entrepreneurial opportunities.”
EvoNexus is also working with Franklin Templeton and the Royal Bank of Canada to identify startups in areas of interest, which include machine learning, payment technologies, cybersecurity, mobile payments, predictive behavior analytics and a host of other technologies.
Companies admitted to the program will have access to EvoNexus’ new 6,000-square-foot office space, located a few floors below its existing UTC offices at 4250 Executive Square. In exchange, startups must provide a 4 to 5 percent equity stake. They can remain in the incubator for up to two years.
“Since the creation of EvoNexus in 2010, 19 companies have been launched with founding teams from UCSD through the EvoNexus incubation program,” EvoNexus CEO and Co-Founder Rory Moore said in a news release. “Four companies came from Rady – and all four are successful. The success rate of ventures from UCSD is stunning.”